600 staff to be made redundant
Adobe has announced drastic measures to combat the global economic slowdown, including the decision to cut its workforce.
In its preliminary fiscal results announcement for the final quarter of the year,Shantanu Narayen, the company’s president and chief executive officer, admitted: ‘The global crisis significantly impacted our revenue during the fourth quarter. We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities.’
The fourth quarter results are expected to be between $912 and $914 million, which is lower than expected thanks to a ‘weaker than expected demand for the Creative Suite 4 family of products’, says Adobe.
It is now to shed 600 jobs worldwide but has not yet specified in which countries the cuts will be made.